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Nonprofiteer
← PUERTO RICO COMMUNITY FOUNDATION INC

Form 990 for tax year 2024

Filed by PUERTO RICO COMMUNITY FOUNDATION INC.

Totals

Total revenue
$9,361,757
Total expenses
$6,338,476
Contributions and grants received
$8,565,226
Grants paid
$2,649,180
Program service revenue
$0
Investment income
$766,281
Other revenue
$30,250
Total assets, end of year
$48,526,352
Total liabilities, end of year
$6,481,051
Net assets or fund balances, end of year
$42,045,301
Program services expenses (Part IX)
$4,897,878
Management and general expenses
$934,734
Fundraising expenses
$505,864
Program service expenses (Part III)
$4,897,878

Program services were 77.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $1,494,784

  • 1f · All other contributions, gifts and grants

    $7,070,442

  • 1g · Noncash contributions included above

    $25,807

  • 3 · Investment income

    total $766,281 · related or exempt $766,281 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $30,250 · related or exempt $30,250 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $30,250

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,932,842 · program services $1,932,842

  • 2 · Grants to domestic individuals

    total $588,838 · program services $588,838

  • 3 · Grants to foreign organizations and individuals

    total $127,500 · program services $127,500

  • 5 · Compensation of officers, directors and key employees

    total $463,317 · program services $298,780 · management and general $80,033 · fundraising $84,504

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $935,396 · program services $603,211 · management and general $161,579 · fundraising $170,606

  • 10 · Payroll taxes

    total $578,534 · program services $278,828 · management and general $154,328 · fundraising $145,378

  • 11b · Fees: legal

    total $9,679 · program services $8,541 · management and general $1,138

  • 11c · Fees: accounting

    total $115,376 · program services $24,684 · management and general $90,692

  • 11f · Fees: investment management

    total $228,968 · management and general $228,968

  • 11g · Fees: other

    total $638,578 · program services $605,805 · management and general $8,648 · fundraising $24,125

  • 12 · Advertising and promotion

    total $45,559 · program services $41,309 · fundraising $4,250

  • 13 · Office expenses

    total $22,776 · program services $8,120 · management and general $8,521 · fundraising $6,135

  • 14 · Information technology

    total $84,969 · program services $7,147 · management and general $48,240 · fundraising $29,582

  • 16 · Occupancy

    total $34,739 · program services $7,215 · management and general $17,495 · fundraising $10,029

  • 17 · Travel

    total $57,019 · program services $50,211 · management and general $1,366 · fundraising $5,442

  • 22 · Depreciation, depletion and amortization

    total $79,054 · program services $46,503 · management and general $18,211 · fundraising $14,340

  • 23 · Insurance

    total $43,634 · program services $11,329 · management and general $32,305

  • 24a · Other expenses: PROGRAM ACTIVITIES AND TECHNICAL ASSITANCE

    total $210,602 · program services $200,923 · management and general $7,827 · fundraising $1,852

  • 24b · Other expenses: SECURITY

    total $6,511 · program services $0 · management and general $6,511 · fundraising $0

  • 24c · Other expenses: REPAIR AND MAINTENANCE

    total $61,036 · program services $5,197 · management and general $55,089 · fundraising $750

  • 24e · All other expenses

    total $73,549 · program services $50,895 · management and general $13,783 · fundraising $8,871

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,025,916 · end of year $1,489,666

  • 2 · Savings and temporary cash investments

    beginning of year $3,924,538 · end of year $7,902,091

  • 3 · Pledges and grants receivable

    beginning of year $2,393,104 · end of year $2,176,804

  • 7 · Other notes and loans receivable

    beginning of year $193,076 · end of year $522,953

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,325 · end of year $64,894

  • 10a · Land, buildings and equipment: cost or other basis

    $4,055,513

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,325,452

  • 10c · Land, buildings and equipment, net

    beginning of year $2,103,150 · end of year $2,730,061

  • 11 · Investments: publicly traded securities

    beginning of year $31,146,282 · end of year $33,639,883

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,057,315 · end of year $2,594,634

  • 18 · Grants payable

    beginning of year $1,057,892 · end of year $1,574,678

  • 23 · Secured mortgages and notes payable

    beginning of year $1,323,359 · end of year $2,311,739

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $28,376,499 · end of year $32,843,013

  • 28 · Net assets with donor restrictions

    beginning of year $8,021,326 · end of year $9,202,288

Mission and programs · 2024

Mission

To develop the capacities of the communities in Puerto Rico to achieve their social and economic transformation, stimulating philanthropic investment and maximizing the yield of each contribution.

  • Educational Programs The development of school communities is an essential part of the Foundation's mission. The Foundation believes that education is the cornerstone for personal and social development. The Foundation perceives education as a social action of interdependence and collective responsibility. The accomplishment of significant achievements and the increase of student academic performance will be the result of the continuous collaboration between the public, private and non profit sectors. This is the climate of collaboration among different sectors promoted by the Foundation to facilitate long term and ongoing support of school improvement at the elementary, middle and high school level

    Expenses $188,208 · Grants $15,000 · Revenue $2,300

  • Puerto Rico Recovery Fund in the aftermath of hurricanes Irma and María the Foundation reactivated its Puerto Rico Community Recovery Fund, once used to address Hurricane Hugo and the emergency of 911 in New York. The Fund became a reliable source for donors to facilitate there giving to Puerto Rico and to provide immediate relief and recovery grants to non-profit organizations. After the immediate relief the Fund continue the economic support grants and technical assistance to promote resilient, equitable and sustainable access and development in four strategic milestones renewable energy, drinking water by community aqueducts, affordable housing, education, economic activity at a community based level.

    Expenses $1,286,398 · Grants $419,000 · Revenue $5,089,811

  • Economic Development Fund Empower economic activity stemming from the community base through the support of community based organizations that stimulate incubation and acceleration of micro-enterprises through grants, capacity building, and technical assistance. Provide access to financial capital in the form of loans, through the Community Investment Fund Fondo de Inversión Comunitaria FIC, to non profit organizations for the purposes of community loan programs for microenterprises or small businesses, ii affordable housing rehabilitation, pre-development, and development costs, iii projects with an identified repayment source contracts, grants, etc., known as bridge loans, and iv feasible activities with a projected financial and social return.

    Expenses $19,344

  • Housing Development Support the development of moderate and low income housing through the enhancement of the leadership and administrative capabilities of not for profit community based organizations by providing grants, capacity building and technical assistance

  • Philanthropy Scholarship and Grants Program Stimulate philanthropic giving from individuals, families, corporations, foundations and other non-profits to provide facilitate grants and scholarship funds to the community

    Expenses $3,312,313 · Grants $2,215,180 · Revenue $2,335,414

  • Community Investment Fund Social impact investment fund that provides social and economic returns to investors. The fund provides financing support to not for profit organizations. The eligible users are community financing programs, acquisition and housing rehabilitation, operational capital and social entrepreneurship initiatives.

    Expenses $91,615

As filed on the 2024 return.

Listed in Part VII

  • Nelson Colon Tarrats

    PRESIDENT & CEO

    Total calculated
    $229,905
    From this org
    $229,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,805
    Bonus
    $83,100
    Other
    $0
    Deferred
    $71,500
    Nontaxable benefits
    $13,802
    Filer's total
    $315,207

  • Mary Ann Gabino

    VP SENIOR

    Total calculated
    $146,789
    From this org
    $146,789
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,591
    Bonus
    $25,899
    Other
    $0
    Deferred
    $12,577
    Nontaxable benefits
    $0
    Filer's total
    $150,067

  • Noelia Marin Oquendo

    FINANCE DIRECTOR & COMPTROLLER

    Total calculated
    $86,622
    From this org
    $86,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $79,716
    Bonus
    $7,506
    Other
    $0
    Deferred
    $8,602
    Nontaxable benefits
    $13,776
    Filer's total
    $109,600

  • Desiree Mieses Llavat

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Benjamin Rosario Rosario

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Marta E Fernandez Pabellon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Vivian I Neptune Rivera

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Miguel L Vargas Jimenez

    PRESIDENT BOD

    Total calculated
    $0
    Hours/week
    4

  • Aida Torres Cruz

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Antonio Escudero Viera

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Anitza Cox Marrero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
TRAVEL POLICY ESTABLISHES THAT TRAVEL SHOULD BE AT COACH CLASS FIRST CLASS SHALL NOT BE REIMBURSED UNLESS A VALID BACKUP DOCUMENT EXISTS
Schedule J, Part I, Line 4
EXECUTIVE DIRECTOR NELSON COLON TARRATS PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.0
Source object
202523219349323877

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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